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2021 Q1 Greater Los Angeles Retail Research Report

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Greater Los Angeles Retail Overview

The Los Angeles Basin retail market is comprised of over 805 MSF of multi-tenant shopping centers and single-tenant properties. Single tenant buildings represent the majority of space among the different property types, holding 46% of the market’s total inventory. The market attracts both affordable retailers and high-end stores due to a population that demands a wide variety of product. High median income households and strong population growth contribute to make this region attractive to retailers.

 

Key Takeaways
  • The COVID-19 impact on the retail sector led to a dramatic push toward online retail.
  • Home delivery capabilities are a must-have for securing a future in the retail world.
  • Even with a positive turn in absorption rates, the overall vacancy rate continued to climb to 6.8%.

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2021 Q1 Greater Los Angeles Retail Research Report

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Related Experts

James Rodriguez

Brokerage Senior Vice-President

Los Angeles - Downtown

A seasoned commercial real estate advisor in Southern California, I focus on properties in densely populated multicultural and Hispanic markets. In particular, I specialize in retail development, redevelopment, strategic planning and consulting services for owners, retailers and municipalities.

Before joining Colliers, I was with CBRE in Southern California for 14 years. I have been unrivaled throughout my career in the sale, leasing and development of commercial properties in multicultural and Hispanic trade areas throughout California. I have assisted numerous regional, national and international occupiers and, to date, I have been involved in more than 65 shopping center developments that together total more than 6 million square feet.

Over the years, I have developed an impeccable reputation and track record for closing transactions on behalf of both private and institutional landlords and tenants, as well as handling the sale of investment properties. I have also been involved in the sourcing, planning, development and marketing of multiple high-profile projects in Southern California.

Before getting into the brokerage side of commercial real estate, I served as director of acquisitions and leasing for Comstock, Crosser and Associates Development Co., a development company based in Manhattan Beach, CA. There, I was responsible for identifying and acquiring commercial properties for redevelopment, assembling development sites and expansion of Top Valu and Valu + Food Warehouse grocery chains.

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Michael Bohorquez

Brokerage Vice President

Los Angeles - Downtown

As a Vice President for Colliers based in the Downtown Los Angeles office, I have been part of the Rodriguez Bohorquez Retail Team since 2010. Our team is deeply involved in various product lines such as occupier services, landlord services and investment sales, all within the multicultural and Hispanic market. My individual focus is largely centered on landlord representation, which includes working with various different private and institutional investors on leasing and sales, as well as advising a number of regional and national brand retailers on strategic site selection.

Based in Los Angeles and active throughout the Southwestern United States, the Rodriguez Bohorquez Retail Team combines a dominant market share position, unmatched hyper-relevant market knowledge and in-depth analytics to source opportunities and drive value. This holistic approach empowers our clients to efficiently and effectively capitalize on opportunities at every stage of the real estate cycle. As a true knowledge-based brokerage team, our team actively emphasizes cultural intelligence to bring world-class insight and expertise to our clients and allows them to stay ahead of the curve in identifying optimal real estate solutions. As a result, our team’s knowledge in the area of Hispanic market trends are unmatched in the industry.

Prior to joining Colliers International in 2013, I graduated from USC in 2009 and spent time at CBRE as well as Marcus & Millichap. While at Marcus and Millichap, I focused on investment sales for retail properties and shopping centers in the San Fernando Valley. I also have experience with the Westfield Corporation where I was involved with property management of the Valencia Town Center.

When not working, I enjoy traveling and spending my free time with my wife, young daughter and friends, who will tell you that I’m am always up for a game of basketball.

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Adam Tischer

Senior Vice President

Los Angeles - Downtown

Adam K. Tischer joined Colliers in January 2011. He will serve as vice president based in Colliers’ DTLA office.

 

He specializes in representing large corporate investment and developer clients in the Downtown Los Angeles market, and has completed commercial real estate transactions totaling approximately $100 million.

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Andres Roldan

Senior Vice President

Los Angeles - Orange County

Andres Roldan is a Senior Director with the firm's Institutional Investment Group.  Mr. Roldan combines his knowledge of capital markets and underwriting standards to provide all facets of investment advisory, including analysis of potential opportunities, deal sourcing, marketing and transaction management.  In his career, Andres has been involved in over $4 billion of sales, joint venture, financing and development transactions for office, industrial, retail, multi-family and land development product throughout the United States, Canada and Latin America.  Andres is a fluent Spanish speaker and his diverse transaction experience covers a wide geography as well as deal size, ranging from mid- to large-scale initiatives.  Mr. Roldan began his career at CBRE with the Financial Consulting Group and most recently he and his fellow capital markets team members spent five years at Savills where they focused on providing investment advisory to institutional clients throughout the Americas.

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Bob Hoyt

Senior Vice President

Los Angeles - Orange County

During his more than 28 years of commercial real estate experience, Hoyt has closed transactions in excess of $1 billion.  Hoyt’s depth of investment property expertise includes transactions involving neighborhood and community retail centers, high-rise and low-rise office buildings and single- and multi-tenant industrial assets.

Hoyt has worked with a wide variety of high-profile investor clientele, including a number of private investors, Newmark Merrill, Red Mountain Retail Group, Citicorp, TA Associates, R&B Realty, Merrill Lynch Hubbard, CB Richard Ellis Advisors, AMB, DA Management, Mitsui U.S.A, Traveler’s Insurance Company, Manulife Realty, Business Properties Development, ICI Development, CT Realty and Koll Bren Schriber Realty Advisors.

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